Big changes may be coming to the BC housing market to make housing more affordable for BC residents, here's what you need to know:
1) No more rental restrictions. Just by making this change, over 300,000 homes in strata will become available for rent. They will still be able to restrict short-term rentals of less than 30 days.
2) For age restriction stratas, there is only one change and that is removing 19+ restricted stratas. This change will allow young, growing families to find affordable housing. I am glad they have not made any changes for 55+ complexes as we are already in shortage for senior housing.
3) The provincial government is making cities responsible for issuing reports on housing needs every five years which includes targets. If cities fail to meet their targets, the provincial government would have the power to step in and amend zoning bylaws or issue permits. This will help people get their permits faster and push cities to be more efficient.
Hopefully this proposal is approved to bring relief to BC residents.